Warren Buffett / Berkshire Hathaway Q2 2025 portfolio moves, in summary from the latest Berkshire Hathaway 13-F filing
New and Increased Positions
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UnitedHealth Group (UNH) – New 5M-share stake (~US$1.6B value, 18th largest Berkshire position).
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First time back in UNH since 2010; stock jumped 6–7% in after-hours trading on the news.
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Purchase comes despite UNH’s troubled year: ~50% share price drop YTD, DOJ investigation into Medicare billing, CEO resignation, and reduced 2025 earnings outlook.
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Seen as a contrarian bargain move; possibly initiated by investment lieutenants Todd Combs or Ted Weschler.
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Nucor (NUE) – New position; steelmaker’s shares jumped nearly 8% after disclosure.
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Lennar (LEN) – Significantly increased stake; shares rose ~3% after filing.
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DR Horton (DHI) – New position in homebuilder; shares up ~3% after filing.
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Other smaller stakes – Lamar Advertising (outdoor advertising) and Allegion (security products).
Trimmed Positions
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Apple (AAPL) – Further reduced stake.
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Bank of America (BAC) – Continued selling.
Context & Speculation
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Berkshire’s Q1 filing had noted one or more undisclosed holdings under SEC confidential treatment; the “mystery stock” turned out to be a mix of DR Horton, Nucor, and Lennar stakes.
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Berkshire’s equity portfolio value: ~US$300B.
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Buffett steps down as Berkshire CEO end-2025; Greg Abel to succeed him and will oversee capital allocation. Buffett remains chairman.
Market Impact
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UNH, NUE, LEN, and DHI all rallied after the filing.
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UNH also attracted other notable buyers in Q2, including Michael Burry and David Tepper.
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UNH trading at a P/E just under 12, near decade-long lows.
This article was written by Eamonn Sheridan at investinglive.com.